Thursday, Nov 27, 2008
UK's Dollar Debt
Telegraph: Bankruptcy update britain
Interesting point about a possibly unforseen consequence of UK Govts taking over banks. A Paralell with Iceland
Posted by bellwether @ 10:06 PM (475 views) Add Comment
1 Comment
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1. mountain goat said...
It's amazing how mainstream the question of UK bankruptcy has become. The "give" in the system is the value of the pound. He is saying if there is a run of on the pound then the dollar debts of the banks which the state now owns become a problem to pay back. Well the dollar is fortunately going to weaken too IMO so maybe not that much danger of this.